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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.

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Almost Antagonism Gold Issue Persuasion Standard Towards Unite

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

Market financed withdrawals of home equity in recent years.
ALAN GREENSPAN

Equity Financial Home Market Recent Withdrawl Year
Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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Dominant Euphoria Fear Force Many Multiply Size
Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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Episode Higher Interest Market Official Rate Recent Toward Unleash Volatility
Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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Asset Clearly Earning Higher Imply Inflation Less Lower Premium Risk Stock Sustain
Gold still represents the ultimate form of payment in the world.
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Gold Payment Represent Ultimate World
No one has ever eliminated any of that stuff.
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Eliminate No One Stuff
I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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Gold Governor Happen Little Market Question Raise Treasury
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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Absence Confiscation God Inflation Protect Save
Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Creative Destructive Enormous Stage List Yet
Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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Develop Fiscal Path Place Policy Protection Regard Reluctance Sustainable Trade
The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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Elegance Feel Generation Gut Important Mathematical More Old Trader Year
This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Aftermath History Period Premium Protract Reason Risk
I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Almost Came Deficit Destabilize Chronic Realization Stark Surplus
Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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Among Configuration Market Occasionally Price Priest Some Succeed
Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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Clarinet Fact More Occasionally Pay Piano Sax
The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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Business Competitive Economy Force Mark More Period Productive Recent Technology Transformation

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